Finance Minister Defends Reinstatement of Zero VAT Amid Criticism and Economic Uncertainty

• Finance Minister Makis Keravnos defended the government’s decision to reinstate zero VAT
• The government is not affected by external pressures and is focused on supporting vulnerable groups and the middle class
• The zero VAT rate applies only to specific products for certain demographic groups that experienced price increases
• The government had initially lifted the zero VAT measure but reinstated it ten days later, sparking criticism
• The ministry is developing new support measures for vulnerable populations and the middle class
• The ministry is considering the abolition of VAT on emissions, despite legal challenges
• Keravnos will participate in meetings with President Christodoulides, social organizations, trade unions, and coalition parties
• The finance minister highlighted uncertainty in the external environment and potential obligations related to infrastructure projects.

Source: cyprus-mail.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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